Report Summary Company Events - **New Borrowings**: - As of the end of Q2 2025, China Railway Construction Investment Group Co., Ltd. had a new borrowing balance of 20.464 billion yuan, accounting for 51.61% of the net assets at the end of the previous year [2]. - As of June 30, 2025, China Railway Construction Corporation Limited had a cumulative new borrowing of 116.674 billion yuan, accounting for 27.61% of the net assets at the end of 2024 [2]. - As of the end of the second quarter, Shaanxi Financial Holding Group Co., Ltd. had a new borrowing balance of 4.015 billion yuan, accounting for 24.60% of the net assets at the end of the previous year [2]. - As of June 30, 2025, Pinghu State - owned Assets Holding Group Co., Ltd. had a cumulative new borrowing of 11.872 billion yuan, accounting for 31.70% of the net assets of 37.449 billion yuan at the end of 2024 [2]. - **External Guarantee Growth**: - As of the end of June 2025, the external guarantee balance of Suqian Canal Port Area Development Group Co., Ltd. was 5.5789083 billion yuan, with a new increase of 1.8564613 billion yuan compared to the end of 2024, and the new external guarantee balance in the first half of 2025 accounted for 37.02% of the audited net assets at the end of 2024 [2]. - As of June 30, 2025, the single - household guarantee balance of Chengdu Xingjin Urban Construction Investment Co., Ltd. for Chengdu Xingjin Construction Investment Group Co., Ltd. reached 6.2865 billion yuan, accounting for 88.16% of the net assets at the end of the previous year [2]. - **New Bond Issuance**: On September 2, Fosun International planned to issue 4NC2.5 - term, RegS senior unsecured notes with an expected upper - limit scale of 400 million US dollars, to be priced as soon as today, with an initial price guidance in the 7.2% area, and planned to be listed on the Singapore Exchange [2]. - **Asset Transfer**: - Shaoxing State - owned Capital Operation Co., Ltd. planned to transfer 49% of the equity of Shaoxing Public Utilities Group Co., Ltd. and 18.39% of the equity of Shaoxing Cultural Tourism Group Co., Ltd. for free, accounting for 35.82% of the net assets in the consolidated statement for the same period. It was also planned that Shaoxing State - owned Assets Control Group Co., Ltd. would absorb and merge Shaoxing State - owned Capital Operation Co., Ltd. [2]. - Chang'an Huitong Group Co., Ltd. planned to transfer 30.3414% of the equity of Shaanxi Chang'an Huitong Financial Leasing Co., Ltd. to its wholly - owned subsidiary Qinchuangyuan Science and Technology Innovation Investment Co., Ltd. for free, which did not involve a change in the scope of the consolidated statements and had no significant impact on the company's main financial indicators [2]. - **Credit Rating Changes**: - Xiamen Tungsten Co., Ltd.'s long - term credit rating of the company's main body was upgraded from AA+ to AAA, and the rating outlook was stable [2][3]. - Moody's confirmed the "Ba2" corporate family rating of CITIC Resources Holdings Limited and adjusted the rating outlook from "stable" to "negative" [3]. Report Industry Investment Rating No information provided. Report's Core View No information provided.

Core Viewpoint - The company announced the termination of a subcontract for road engineering with Yunnan Construction Investment Holding Group, which will not significantly impact its financial status or operating performance for the current year [1] Group 1 - The subcontract was for road engineering construction and has been officially terminated [1] - As of the termination date, the project has been settled for 376 million yuan, with remaining work being gradually settled [1] - The termination of the cooperation is not expected to have a major effect on the company's financial condition or operational results for the year [1]

公告称，收益提升主要是由于合约价值增加。 爱得威建设集团(06189)发布截至2025年6月30日止6个月的中期业绩，该集团取得收益人民币84万元(单 位下同)，同比增加326%;期内亏损1687.1万元，同比增加98.16%;每股亏损0.07元。 ...

格隆汇9月3日丨爱得威建设集团(06189.HK)发布公告，截至2025年6月30日止六个月，收益为84万元人 民币，上年同期为19.7万元人民币；毛利为2.4万元人民币，上年同期为9.3万元人民币；公司拥有人应 占亏损为1687.1万元人民币，上年同期公司拥有人应占亏损为851.4万元人民币；基本及摊薄每股亏损人 民币0.07元。 ...

浦东建设（600284）(600284.SH)公告，公司子公司上海市浦东新区建设(集团)有限公司、上海浦东路桥 (集团)有限公司、上海南汇建工建设(集团)有限公司和上海浦东建筑设计研究院有限公司近期中标多项 重大项目，中标金额总计为12.71亿元。 ...

智通财经APP讯，浦东建设(600284.SH)公告，公司子公司上海市浦东新区建设(集团)有限公司、上海浦 东路桥(集团)有限公司、上海南汇建工建设(集团)有限公司和上海浦东建筑设计研究院有限公司近期中 标多项重大项目，中标金额总计为12.71亿元。 ...

格隆汇9月3日丨浦东建设(600284.SH)公布，近日，上海浦东建设股份有限公司的子公司上海市浦东新 区建设（集团）有限公司、上海浦东路桥（集团）有限公司、上海南汇建工建设（集团）有限公司和上 海浦东建筑设计研究院有限公司中标多项重大项目，中标金额总计为人民币127,123.45万元。 ...

格隆汇9月3日丨隧道股份(600820.SH)公布，2022年8月24日，公司第十届董事会第六次会议审议通过 《关于受托管理控股股东股权资产暨关联交易的议案》后，继续就该事项签署《委托经营管理协议》， 委托经营的期限为3年，自2022年10月1日起计算，至2025年9月30日届满。委托期间，双方均依约履行 了各自的权利义务。现经双方再次友好协商，就公司受托管理城建集团直接持有的非上市公司股权资产 事宜，签署新的《委托经营管理协议》。 ...

Core Viewpoint - China Railway's net profit attributable to shareholders and net profit after deducting non-recurring gains and losses for the first half of the year were 11.827 billion and 10.268 billion yuan, respectively, representing a year-on-year decline of 17.17% and 21.59% [1] Financial Performance - Q2 net profit attributable to shareholders and net profit after deducting non-recurring gains and losses were 5.801 billion and 4.715 billion yuan, respectively, with year-on-year declines of 14.65% and 20.45% [1] - The decline in performance is primarily due to a decrease in gross profit margin and an increase in credit impairment losses [1] Revenue Breakdown - Domestic and overseas business revenues were 475.531 billion and 36.971 billion yuan, showing year-on-year changes of -6.83% and +8.34%, respectively [1] Contract Growth - New contract amounts in overseas railway, construction, municipal, design consulting, and equipment manufacturing sectors continued to grow [1] - Key projects won include the Tambor Railway, the China-Kyrgyzstan-Uzbekistan Railway, and the Senegal Kedougou Lithium Mine [1] Market Position - The company maintains a leading position in infrastructure construction, including railways, highways, and urban transit systems [1] - Continuous expansion in overseas markets and emerging businesses supports future profitability [1]

公开资料显示，中铁十八局集团第三工程有限公司成立于1989年，法定代表人为苏睿，由中铁十八局集 团有限公司100%持股。 产经新闻热线：0531-85193242 记者从信用中国获悉，近日，中铁十八局集团第三工程有限公司因"未经核准擅自处置建筑垃圾"被罚款 10万元，行政处罚决定书文号为昆（盘）综执罚决字（2025）第0000054号。 违法事实显示，2025年7月8日，区联盟路发生一起渣土车运输过程中交通肇事，肇事车车牌号为云 AL0021，属于云南鸿基明业建设有限公司车辆，经核查，该车系昆明排水设施管理有限责任公司（建 设方）所属联盟街道办事处麻线沟雨水泵站建设工程项目工地所签约的渣土运输公司车辆，该车辆从工 地拉运渣土外出在联盟路街道时肇事。经调查，该项目工程工地建设单位为：昆明排水设施管理有限责 任公司，施工单位为：中铁十八局集团第三工程有限公司，运输单位含云南鸿基明业建设有限公司，该 城市建筑垃圾处置许可证许可施工期限为2025年4月25日—2025年6月6日；7月7日和7月8日两天该项目 工地在无持有新的城市建筑垃圾外置许可证情况下，7日向外运输36车渣土，8日至事故发生时运出项目 工地11车渣土 ...